Global Logistic Properties has signed new lease agreements totalling 68,000 m2 with three industry-leading companies in Brazil, where domestic consumption and strong consolidation trends are contributing to continued leasing demand. GLP Brazil’s business in Brazil remains solid despite slowing GDP growth, as companies seek to consolidate their operations to achieve greater efficiency and lower operational costs.

These are new customer relationships for GLP with Magazine Luiza, Argos and Certa.

Magazine Luiza, one of the largest retail chains in Brazil, has pre-leased 41,000 m2 at GLP Park Guarulhos. The customer has a strong online presence and will be using the facility to support distribution for both its eCommerce and retail store operations.

Certa, one of the largest food producers in Brazil, has leased 15,000 m2 at GLP Park Jundiaí II to enhance its domestic distribution capabilities.